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3 years ago

8

During December, Far West Services makes a $3,800 credit sale. The state sales tax rate is 6% and the local sales tax rate is 2.

5%. Record sales and sales tax payable.

1 answer:

kkurt [141]3 years ago

4 0

Answer:

DEBIT Acc. Rec. 4,123 CREDIT Sales tax payable 323 Sales Rev. 3,800 is the correct answer.

Explanation:

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Suppose that the quantity of DVD players sold increased from 200 to 400 when the price fell from $225 to $175. Over this price r

Nataly_w [17]

Answer:

Option D.

Explanation:

Given information:

$Q_1=200, Q_2=400$

$P_1=225, P_2=175$

Formula for price elasticity of demand is

$E_d=\frac{Q_2-Q_1}{P_2-P_1}\times \frac{P_1+P_2}{Q_1+Q_2}$

Substitute the given values in the above formula.

$E_d=\frac{400-200}{175-225}\times \frac{225+175}{200+400}$

$E_d=\frac{200}{-50}\times \frac{400}{600}$

$E_d=-\frac{8}{3}$

$E_d\approx -2.67$

Absolute value is

$|E_d|= |-2.67|=2.67$

The absolute value of the price elasticity of demand for DVD players is 2.67.

Therefore, the correct option is D.

6 0

3 years ago

For the current year, Gina Hestopolis had adjusted gross income of $100,000. During the year, she contributed $6,000 to her chur

Dvinal [7]

Answer:

$39,000

Explanation:

This can be calculated as follows:

Charitable contribution to carry forward = Contribution to church + Contribution to qualified charities + Half of the fair market value of contributed religious artwork

Therefore, we have:

Charitable contribution carry forward = $6,000 + $3,000 + ($60,000 ÷ 2) = $39,000

Therefore, the amount of the charitable contribution carry forward beyond the current year for Gina Hestopolis is $39,000.

6 0

3 years ago

The key feature of an oligopolistic market is that Select one: a. a single firm chooses a point on the market demand curve. b. e

Lesechka [4]

Answer:

c. a small number of firms are acting strategically.

Explanation:

The Firms in oligopoly can influence market outcome and thus they act strategically to achieve the expected outcome.

6 0

3 years ago

Meat Packers, Incorporated (MPI) preserves and packages various kinds of meats for transportation to grocery stores. To prepar

Grace [21]

Answer:

Fixed costs = $13,000

Variable costs = $450,000

Explanation:

Fixed costs are costs that do not vary with production. In this question, they are rent payments and monthly payments on meat packaging equipment.

Fixed cost = $10,000 + $3,000 = $13,000

Variable costs are costs that vary with production. In this question, they are the cost of purchase of raw meat, wages and fuel costs.

Variable costs = ($20 + $90 + $40) × 3000 = $450,000

I hope my answer helps you.

8 0

3 years ago

Which of these types of products usually involves the customer doing comparison shopping?

choli [55]

Normally customer does comparison shopping between consumer goods

7 0

3 years ago